News Corp. Sells MySpace For Just $35 Million

By Anthony Silva, WBZ News Radio 1030

BOSTON (CBS) – Social networking is one of the fastest growing segments on the internet, but an early-entry company in that space has officially been labeled a loser.

News Corp. has agreed to sell MySpace.com to Specific Media for just $35 million, a fraction of the $580 million the company paid for it just half a dozen years ago.

WBZ NewsRadio 1030’s Anthony Silva reports.

More from New England Business
Comments

More From CBS Boston

Download Weather App
Taz Show

Listen Live